This application relates to a method for managing resources in a processor system. Processors such as microprocessors and central processing units (CPU's), among others, include logic circuitry that respond to a process residing in an execution space in a memory associated with the processor. Some processors such as network processors are designed to process streams of data packets received over a network such as a wide area network (WAN) and transmit the data packets to appropriate local destinations. Due to particular attributes of the packet workload, the allocation of specific processor resources to the different processing functions may have to be dynamically adapted. Such dynamic allocations, however, may not always utilize the best available packet channel implementation, may require packet data migration, and may lead to packet loss during the processor allocation transition phase.